In the recent assessment of African nations’ economic standings based on GDP per capita, Nigeria is notably absent from the list of the continent’s poorest countries. 

This offers a unique perspective on Nigeria’s economic structure and comparative stability amidst many struggling neighbors. Here is why Nigeria stands out and who makes up the list of the poorest by GDP in Africa.

Economic Measurement – GDP Per Capita

Gross Domestic Product (GDP) per capita remains a critical measure, showing the average economic output per person. Adjusting this through purchasing power parity (PPP) provides a more accurate reflection of living standards, particularly in varied economic climates like those found across Africa.

Why Nigeria stands apart

Nigeria, Africa’s largest economy, derives its strength from a diversified economic base. The country’s vast oil reserves and burgeoning sectors like telecommunications and technology provide a buffer against the kind of economic instability seen in more mono-economically focused nations. 

Additionally, political stability in recent years has fostered a conducive environment for economic growth and foreign investment.

However, Nigeria’s absence from this list doesn’t imply the absence of poverty. Significant challenges like regional disparities, corruption, and infrastructural deficits are prevalent. Urban centers like Lagos and Abuja showcase growth and development, while many northern regions lag behind due to security challenges and underinvestment.

The Top Ten List

South Sudan

South Sudan, the world’s youngest nation with a GDP of $25.83 billion and a population of 11.2 million, contends with significant obstacles since its independence in 2011. Political instability, ongoing conflicts, and poor infrastructure hinder economic development, with most of the population reliant on traditional agriculture, which is frequently disrupted by violence and harsh weather conditions.

Burundi

Burundi, with a GDP of $3.06 billion and about 13.46 million residents, faces severe socio-economic challenges from political unrest, conflicts, and poor infrastructure. Rapid population growth and reliance on subsistence farming lead to widespread food insecurity.

Central African Republic (CAR)

The Central African Republic (CAR), with a GDP of $3 billion and a population of approximately 5.85 million, struggles economically due to political instability, armed conflicts, and poor infrastructure. Despite being resource-rich, it suffers from deep poverty, further aggravated by external factors like the war in Ukraine and natural disasters.

Democratic Republic of Congo (DRC)

The Democratic Republic of Congo (DRC), with a GDP of $15.42 billion and a population of over 104 million, faces significant economic challenges despite its abundant natural resources like cobalt and copper. About 62% of its populace lives on less than $2.15 per day, with issues like malnutrition, limited education, and high fertility rates exacerbating poverty.

Mozambique

Mozambique, a resource-rich former Portuguese colony with a GDP of $23.96 billion and a population of about 34.50 million, experiences persistent poverty despite strong economic growth. The country deals with natural disasters, diseases, rapid population growth, and low agricultural productivity, which are exacerbated by wealth inequality and insurgent attacks in its northern gas-rich regions.

Niger

Niger, with a GDP of $19.54 billion and a population of approximately 27.84 million, faces significant challenges due to its limited natural resources, frequent droughts, and heavy reliance on agriculture. Covering 80% of its terrain with the Sahara Desert and a population dependent on small-scale farming, Niger struggles with desertification.

Malawi

Malawi, located in southeastern Africa, faces economic challenges despite its scenic landscapes and a population of 21.39 million. Its dependence on rain-fed agriculture makes it vulnerable to climate change and fluctuations in commodity prices. However, the government is focused on diversifying the economy and improving education and healthcare to reduce poverty.

Liberia

Liberia, with a GDP of $4.59 billion and a population of approximately 5.49 million, continues to struggle with poverty exacerbated by civil wars, Ebola outbreaks, and unstable infrastructure. Disruptions in agriculture due to forced migration contribute to food insecurity. Organizations like the World Food Programme are actively working on poverty alleviation through investments in sustainable development, education, and healthcare.

Madagascar

Madagascar, with a GDP of $16.77 billion and a population of 25.6 million, has faced numerous political crises and military coups since its independence from France in 1960. The adoption of its current constitution in 2014 has led to a period of relative political stability. Despite its wealth in natural resources, the island nation continues to struggle with internal instability and external interference, affecting the optimal use of its resources. Key sectors like mining and tourism are major contributors to its GDP.

Somalia

Somalia, with a GDP of $10.42 billion and a population of 17.6 million, faces a continuous cycle of severe droughts, conflicts, and fragile governance. About 70% of its population lives below the poverty line, and 90% suffer from “multidimensional poverty,” which includes low income, limited educational access, and poor infrastructure. Despite a slight average annual GDP growth of 2%, the per capita GDP has been declining by about 0.8% each year.